ICL Group (ICL) Company Report

Analyst Coverage

Research analysts who have asked questions during ICL Group earnings calls.

Joel Jackson

BMO Capital Markets

5 questions for ICL

Also covers: AGCO, ALB, ALTM +12 more

Alexander Jones

BofA

3 questions for ICL

Also covers: ARHUF, NVZMY

Benjamin Theurer

Barclays Corporate & Investment Bank

2 questions for ICL

Also covers: ADM, BG, BYND +17 more

Ben Theurer

Barclays

2 questions for ICL

Also covers: ADM, BG, CF +8 more

Mubasher Chaudhry

Citigroup

2 questions for ICL

Also covers: AIQUY

Rahi Parikh

Barclays

2 questions for ICL

Also covers: BG, HRL, KOF +2 more

Will Tang

Jefferies

2 questions for ICL

Alex Jones

Bank of America

1 question for ICL

Also covers: AIQUY

Daanish Rizwan

Jefferies

1 question for ICL

Dan Rizzo

Jefferies Financial Group Inc.

1 question for ICL

Also covers: HUN, OEC

Kyle Caunt

Citi

1 question for ICL

William Tang

SIG

1 question for ICL

Also covers: NU

Latest news

Recent press releases and 8-K filings for ICL.

ICL Group Enters Chinese Fertilizer Market with $170 Million Agreement

ICL

New Projects/Investments

Product Launch

ICL Group signed a five-year, $170 million agreement with the AMP Holdings Group in August 2024 to sell specialist water-soluble fertilizers in China, marking its entry into the expanding Chinese fertilizer sector.
The international fertilizer market was estimated at US$199.82 billion in 2024 and is projected to grow to US$279.52 billion by 2033, expanding at a compound annual growth rate (CAGR) of 3.80% during the period of 2025-2033.

Feb 18, 2026, 4:05 PM

Press Release

ICL Group Reports Q4 and Full-Year 2025 Results, Outlines Strategic Shifts and 2026 Guidance

ICL

Earnings

Guidance Update

M&A

ICL Group reported Q4 2025 sales of $1.701 billion, an increase of 6% year-over-year, and consolidated Adjusted EBITDA of $380 million, up 10% year-over-year. For the full year 2025, consolidated sales reached $7.153 billion and EBITDA was $1.488 billion.
The company made significant strategic adjustments, including the acquisition of Bartek Ingredients to expand its Specialty Food Solutions portfolio, and the discontinuation of LFP battery material projects in St. Louis and Spain, incurring an adjustment of approximately $61 million in Q4. Additionally, ICL initiated a sale process for its Boulby operations in the U.K., recording an impairment of approximately $50 million.
ICL signed a binding agreement with the State of Israel regarding the Dead Sea concession assets, securing compensation and bromine supply through at least 2035, and recognized approximately $80 million in Q4 for prior periods related to water fees.
For 2026, ICL Group expects consolidated EBITDA to be between $1.4 billion and $1.6 billion, with projected potash sales volume of 4.5 million to 4.7 million metric tons.
Key challenges identified for 2026 include higher sulfur costs and the strengthening Israeli Shekel against the US dollar.

Feb 18, 2026, 1:30 PM

Transcript

ICL Group Reports Strong Q4 2025 Results, Outlines 2026 Guidance, and Advances Strategic Initiatives

ICL

Earnings

Guidance Update

M&A

ICL Group delivered strong Q4 2025 financial results, with sales of $1.701 billion (up 6% year-over-year) and consolidated adjusted EBITDA of $380 million (up 10% year-over-year), contributing to full-year 2025 sales of $7,153 million and EBITDA of $1,488 million.
The company advanced its strategic principles by acquiring Bartek Ingredients to expand specialty food solutions and signing a binding agreement with the State of Israel for Dead Sea concession assets, while discontinuing LFP battery material projects and initiating a sale process for UK operations to optimize capital allocation.
For 2026, ICL Group expects consolidated EBITDA to be between $1.4 billion and $1.6 billion and potash sales volume between 4.5 million and 4.7 million metric tons.
The company anticipates stable to improving prices for minerals (potash, phosphate, bromine) in Q1 2026 but faces challenges from surging sulfur costs (over $500, up from $140-$150) and the strengthening Shekel against the U.S. dollar.

Feb 18, 2026, 1:30 PM

Transcript

ICL Group Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Guidance

ICL

Earnings

Guidance Update

M&A

ICL Group reported Q4 2025 total sales of $1.7 billion and adjusted EBITDA of $380 million, marking year-over-year increases of 6% and 10%, respectively. For the full year 2025, total sales reached $7.2 billion and adjusted EBITDA was $1.5 billion.
The company generated $314 million in operating cash flow for Q4 2025 and $1.1 billion for FY 2025.
Key strategic actions in 2025 included the acquisition of Bartek Ingredients and Lavie Bio, signing a binding agreement for Dead Sea Concession assets, and discontinuing the LFP project.
For FY 2026, ICL Group expects adjusted EBITDA to be between $1.4 billion and $1.6 billion, with potash sales volumes projected to be between 4.5Mmt and 4.7Mmt.
As of December 31, 2025, the company maintained $1.6 billion in available cash resources and a net debt to adjusted EBITDA ratio of 1.3x, alongside declaring a quarterly dividend of $60 million.

Feb 18, 2026, 1:30 PM

Presentation

ICL Group Reports Q4 and Full-Year 2025 Results, Provides 2026 Guidance, and Updates on Strategic Initiatives

ICL

Earnings

Guidance Update

M&A

ICL Group reported Q4 2025 adjusted diluted earnings per share of $0.09, an increase of 13% year-over-year, and full-year 2025 adjusted diluted EPS of $0.36. Consolidated sales for Q4 2025 grew 6% year-over-year, contributing to $7,153 million in consolidated sales for the full year, up 5% from 2024.
The company is executing a new strategy, which includes discontinuing its downstream LFP battery materials expansion project and initiating a sale process for its Boulby operations in the U.K.. Simultaneously, ICL acquired Bartek Ingredients to enhance its Specialty Food Solutions portfolio.
For 2026, ICL anticipates consolidated EBITDA to range between $1.4 billion and $1.6 billion, with potash sales volume projected to be between 4.5 million and 4.7 million metric tons.
Key challenges include higher sulfur costs, the strengthening of the shekel against the U.S. dollar, and market pressures in Brazil impacting profitability. Additionally, the company recognized $14 million for 2025 and $80 million for prior periods in Q4 2025 due to water extraction fees in the Dead Sea concession area.

Feb 18, 2026, 1:30 PM

Transcript

ICL Group Ltd. Reports Q4 and Full Year 2025 Financial Results and Provides 2026 Guidance

ICL

Earnings

Guidance Update

Dividends

ICL Group Ltd. reported total sales of $1.7 billion and adjusted EBITDA of $380 million for the fourth quarter of 2025, with an adjusted diluted EPS of $0.09.
For the full year 2025, the company achieved total sales of $7.2 billion and adjusted EBITDA of $1.5 billion, resulting in an adjusted diluted EPS of $0.36.
Sales for Q4 2025 increased 6% year-over-year, and adjusted EBITDA grew 10% year-over-year, driven by continued price increases across bromine, potash, and phosphate fertilizers.
The company provided guidance for FY 2026, projecting adjusted EBITDA to be between $1.4 billion and $1.6 billion, and Potash sales volumes between 4.5 Mmt and 4.7 Mmt.
ICL Group Ltd. declared a quarterly dividend of $60 million for Q4 2025, representing an annual yield of 3.1%, and maintained a net debt to adjusted EBITDA ratio of 1.3X as of December 31, 2025.

Feb 18, 2026, 11:05 AM

6-K

ICL Group Ltd. Declares Cash Dividend

ICL

Dividends

ICL Group Ltd.'s Board of Directors declared a cash dividend of $0.04650 per share, totaling approximately $60 million, on February 17, 2026.
The record date for this dividend is March 10, 2026, and the payment date is March 25, 2026.
Some shareholders will receive the dividend in New Israeli Shekels (NIS), with the amount subject to conversion based on the Bank of Israel's representative exchange rate on March 9, 2026.
Israeli tax will be withheld at varying rates depending on the recipient's residency status and the portion of the dividend.

Feb 18, 2026, 11:03 AM

6-K

ICL Reports Q4 and Full Year 2025 Results, Provides 2026 Guidance, and Details Strategic Actions

ICL

Earnings

Guidance Update

M&A

ICL reported Q4 2025 consolidated sales of $1,701 million and adjusted EBITDA of $380 million, with adjusted diluted EPS of $0.09. For the full year 2025, consolidated sales were $7,153 million and adjusted EBITDA was $1,488 million, with adjusted diluted EPS of $0.36.
The company issued 2026 guidance, expecting consolidated adjusted EBITDA to range from $1.4 billion to $1.6 billion and Potash sales volumes between 4.5 million and 4.7 million metric tons.
Strategic actions included the acquisition of Bartek Ingredients, the discontinuation of LFP battery materials projects in St. Louis and Spain, and a review of Boulby operations in the UK for divestment.
In Q4 2025, ICL recognized unusual adjustments totaling $239 million, primarily for strategy execution activities ($122 million) and a provision for water extraction fees ($80 million).
The Board declared a dividend of 4.65 cents per share, totaling approximately $60 million, payable on March 25, 2026.

Feb 18, 2026, 11:00 AM

6-K

ICL Reports Strong Q4 and Full Year 2025 Results, Provides 2026 Guidance

ICL

Earnings

Guidance Update

M&A

ICL reported Q4 2025 sales of $1,701 million, a 6% increase year-over-year, and adjusted EBITDA of $380 million, up 10%. For the full year 2025, sales grew 5% to $7,153 million with adjusted EBITDA of $1,488 million.
The company advanced its strategic principles by acquiring Bartek Ingredients and discontinuing LFP battery materials projects in St. Louis and Spain, alongside a review of non-core assets.
For 2026, ICL expects consolidated adjusted EBITDA to be between $1.4 billion to $1.6 billion and potash sales volumes between 4.5 million and 4.7 million metric tons.
The Board of Directors declared a dividend of 4.65 cents per share, or approximately $60 million, payable on March 25, 2026.

Feb 18, 2026, 7:15 AM

Press Release

ICL Finalizes Dead Sea Concession Asset Valuation and Transition Agreement

ICL

New Projects/Investments

Legal Proceedings

ICL has signed a final and binding agreement with the State of Israel regarding the valuation of assets and the transition process for the Dead Sea concession.
The agreed asset valuation is $2.54 billion, with 95% of the total consideration to be paid on April 1, 2030, and the remaining 5% on September 1, 2030.
The agreement ensures a continued supply of raw materials for ICL's downstream operations (bromine compounds and Periclase) through 2035, with no expected material change in profitability.
ICL will cooperate with the state's tender process for the new concession, which aims to select a new holder by early 2028, well before the current concession expires in March 2030.